Answer:
The $500 is the opportunity cost.
Explanation:
The sunk cost can be defined as a cost that has already been incurred. Such as cost can no longer be recovered. A sunk cost is considered to be irrelevant and is excluded from decision making.
If an individual decided to take an accounting course and paid the tuition fee of $500 and gets a job offer later. If he/she decides to take up the job the tuition fee paid will be the sunk cost which cannot be recovered anymore.
False, this could negatively impact our thinking and output for the situation, thus creating an exponential problem by lowering ones ethical decision making skills.
Answer:
(d) Leniency
Explanation:
Based on the information provided within the question it can be said that this scenario is an example of leniency. This is a rater's bias in which a rater gives an individual a rating that may be a little too positive based on the factors that they need to be taking into account when rating. Such as is the case in this scenario since Linda gave Jan excellent ratings even though her performance is average at best.
Answer:
B) He is required to provide written notice to his broker-dealer.
Explanation:
Under self-regulatory organization (SRO) rules, if a registered person engages transaction involving private securities, he/she must provide a written notice to his firm. Even if their is no compensation involved, the firm still has the right to impose certain conditions regarding the participation of the registered person.
Answer:
The correct option will be option B.
Dr Accounts Receivable $100
Cr Service Revenue $100
Explanation:
The reason is that the service was delivered and the money was received at just after the service delivered (the same day). So there is no need to pass the entry which includes cash received against receivables because here the cash received is because we have delivered services no because of any amount receivable.
So the entry that must be passed:
Dr Cash $100
Cr Service Revenue $100
And what we have done is:
Dr Cash $100
Cr Accounts Receivables $100
The correct entry would be removal of the effect of decrease in receivable which must be increased and increase in revenue which has not been recognized.
So the entry is that will correct the books of accounts will be:
Dr Accounts Receivables $100
Cr Service Revenue $100
